Blackmores (ASX:BKL) is the bellwether many are trying to emulate, after lifting half-year profit by 20 per cent to $34 million in February on the back of Chinese sales.

The Chinese supplement market has gained the most market share since 2006, making up 14.3 per cent of the global industry by 2016, according to the Nutrition Business Journal.

Asians buys $15 billion of herb and botanical-based supplements annually, but sports, meal and homeopathic supplements are seeing double-digit growth in the region as well.

Consulting firm McKinsey says the global supplements market is now worth $US82 billion ($110 billion) — with about 28 per cent of that in the US.

The Australian sector is said to be worth about $2.6 billion.

Ageing populations, awareness of preventative healthcare, “self-directed consumers” who Google their health answers, more advertising channels and a shift from marketing ingredients to brands have helped build the market.

ASX-listed vitamin sellers are finding lots of customers. GIF: Giphy

Probiotec, which makes neuraceuticals and “Celebrity Slim” weight-loss shakes is up 155 per cent for the past year. It recently upgraded its profit outlook by 10 per cent

Bioxyne, which sells dietary supplements such as probiotics and nutritional shakes, is up 380 per cent over the past year.

Jatenergy — which sells vitamins an neutraceuticals into China — is up an astounding 1000 per cent over 12 months.

Both Bioxyne and Jatenergy got big boosts from their moves into dairy.

Eagle Health is trying the meal replacement market by selling diabetes shakes. Holista CollTech (ASX:HCT) makes most of its income from dietary supplements but mving into health foods including diet noodles aimed at Asian markets.

>> Here’s a list of ASX small caps in the vitamins and dietary supplements game:

ASX Code

Company

One-year share price change

Price May 15

Market Cap

CDC

CHINA DAIRY

Suspended

0.066

49M

JAT

JATENERGY

10.4285714286

0.16

89.5M

BXN

BIOXYNE

3.8

0.072

46.1M

AU8

AUMAKE (listed Oct 2017)

2.25

0.26

68.9M

QBL

QUEENSLAND BAUXITE

1.88235294118

0.049

78.1M

PBP

PROBIOTEC

1.55434782609

1.175

65.7M

THC

THE HYDROPONICS CO

0.867647058824

0.635

81.0M

EXL

ELIXINOL GLOBAL (listed Jan 2018)

0.65

1.65

173.9M

CPH

CRESO PHARMA

0.479591836735

0.725

79.4M

EVE

EVE INVESTMENTS

0.375

0.011

26.8M

MXC

MGC PHARMACEUTICALS

0.2

0.072

87.8M

AEB

ALGAE.TEC

-0.147058823529

0.029

25.2M

VLS

VITA LIFE SCIENCE

-0.24

0.76

41.7M

EHH

EAGLE HEALTH (listed Jun 2017)

-0.2875

0.285

89.2M

HCT

HOLISTA COLLTECH

-0.292307692308

0.092

17.5M

The Star Combo story

Star Combo comes with solid financials and a decent story.

Star Zhang founded the business in 2004 with plans to export supplements to Asia. A deal with Terry White Chenmart pharmacies in 2017 got one of their brands into the Australian chain as well.

The company made a $1.48 million profit in the 2016-17 financial year and revenue of $9.84 million. Profit the year before was $1.59 million and revenue was $9.4 million.

Currently, the company makes 70 per cent of its revenue from contract manufacturing for other vitamin businesses and 30 per cent from sales of its branded products, but is looking to swap those numbers around.

The founding group however, has only let go of a small percentage of the register into outsider hands, just 16.37 per cent.

Mr Zhang owns 50.55 per cent.

Chief Su Zhang owns 15.16 per cent.

Chinese medical investor Lepu was the other cornerstone investor in the IPO, taking 14.57 per cent.

Together with Richlink, those three investors own 83.63 per cent of Star Combo, and Mr Zhang retains effective control over the company he founded.